UAE Perfume Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023
The UAE Perfume market was worth US$ 403 Million in 2017. The market is further projected to reach US$ 685 Million by 2023, at a CAGR of more than 9% during 2017-2023. In the UAE, perfumes were traditionally produced manually and then sold in the local marketplace, The last few decades, however, have witnessed major changes in the industry, with the UAE now establishing itself as a major global player in the perfume industry. The region now represents one of the major producers and exporters of perfume across the globe.
The region has also witnessed an evolution in terms of western brands setting up there bases in the region and developing products that are a blend of both Arabic and Western influence.
UAE Perfume Market Trends
The willingness of women and men for using a perfume and enhancing their personality represents one of the crucial factors which is fostering the UAE perfume market. Moreover, Beautyworld, an international trade fair for cosmetics and perfumery which takes place every year in the UAE, is further presenting tremendous opportunities for the growth of the market.
In recent years, the UAE has witnessed a strong growth in the number of international perfume houses setting up their bases in the country. They are increasingly serving their products to the local population by incorporating traditional oriental notes in their fragrances and introducing contemporary fragrances.
Consumers living in the region currently prefer natural perfumes having a rich and warm oriental fragrance, preferably used in their natural forms. Ingredients such as amber, oud, musk, exotic flowers, etc. are quite popular in the region
Some of the other factors which are facilitating the growth of the UAE perfume market include rising penetration of ecommerce and social media, rising disposable incomes, and growing awareness about personal grooming.
Market Breakup by Price:
On the basis of price, the UAE perfume market is segmented as premium products and mass products. Presently, premium products exhibit a clear dominance in the market. While mass products are inexpensive and widely available, premium products are predominantly associated with self-esteem.
Market Breakup by Gender:
Based on the gender, the market has been classified as male, female and unisex. Unisex perfumes currently represent the largest segment as these can be used by both male and female users.
Market Breakup by Product
On the basis of product, the market is segregated as Arabic, French and others.
The market is highly concentrated in nature with the presence of few well-established manufacturers which together account for the majority of the market share. This makes it difficult for small players or new entrants to survive in the industry.
This report provides a deep insight into the UAE perfume market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the perfume market in any manner.
Key Questions Answered in This Report:
How has the UAE perfume market performed so far and how will it perform in the coming years?
Which are the popular product types in the UAE perfume market?
What are the major gender segments in the UAE perfume market?
What has been the performance of the premium segment versus the mass segment?
What are the various stages in the value chain of the UAE perfume market?
What are the key driving factors and challenges in the UAE perfume market?
What is the structure of the UAE perfume market and who are the key players?
What is the degree of competition in the UAE perfume market?
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook